Needham Calls Tower Semiconductor Ltd. (USA) (TSEM) “Top Stock Pick for 2017”
Needham’s Rajvindra Gill, a top five-star rated analyst, has called Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) a top stock pick for 2017. Gill reiterated his Buy rating for the company with a price target of $25, which represents a 31% upside from the current share price.
Current trading levels represent an opportunity for investors to capitalize on a continual net profit, margins, and free cash flow (FCF) growth story, Gill wrote in a report today.
Gill expects that TSEM’s next wave of growth should come from advanced driver assistance systems (ADAS), with a focus on high-performance foundry for camera, radar, and LiDAR sensors. According to Gill, TSEM is already addressing three mega trends within the industry: 1) smart everything; 2) wireless everything; and 3) energy efficiency.
Tech-focused Rajvindra Gill has a 59% success rate on TipRanks with an average return of 13.6%. He is ranked #78 out of 4,283 analysts on TipRanks.